Armenian dram

For earlier Armenian currency, see Armenian ruble.

Armenian dram
Հայկական Դրամ (Armenian)
A 100,000 (haryur hazar) Armenian dram banknote, the highest denominated banknote in circulation.
ISO 4217 code	AMD
Central bank	Central Bank of the Republic of Armenia
Website	www.cba.am
User(s)	Armenia Nagorno-Karabakh Republic
Inflation	4.5% (Armenia only)
Source	The World Factbook, 2007 est.
Subunit
1/100	luma (լումա)(not used)
Symbol
Coins	10 (tas), 20 (ksan), 50 (hisun), 100 (haryur), 200 (yerkuharyur), 500 (hingharyur) dram
Banknotes	1000 (hazar), 5000 (hing hazar), 10 000 (tas hazar), 20 000 (ksan hazar), 50 000 (hisun hazar), 100 000 (haryur hazar) dram

The dram (Armenian: Դրամ; sign: ; code: AMD) is the monetary unit of Armenia. It is subdivided into 100 luma (Armenian: լումա). The word "dram" translates into English as "money" and is cognate with the Greek drachma and the Arabic dirham. The Central Bank of Armenia has the exclusive right of issuing the national currency according to Armenian law.

History

The first instance of a dram currency in Armenia was in the period from 1199 to 1375, when silver coins called dram were issued.

On 21 September 1991 a national referendum proclaimed Armenia as an independent republic from the Soviet Union. The Central Bank of Armenia was adopted on 27 March 1993, under the governorship of Isahak Isahakyan. However the old Soviet banknotes were legal tender until November 1993. The modern dram came into effect on 22 November 1993, at a rate of 200 rubles = 1 dram (1 USD : 404 AMD). The dram is not pegged to any other currency.

Coins

In 1994, coins were introduced by the Central Bank of Armenia in denominations of 10, 20 and 50 luma, 1, 3, 5 and 10 dram. All were struck in aluminium. In 2003 and 2004, a new coinage consisting of 10, 20, 50, 100, 200 and 500 dram coins was introduced. The 10 dram is struck in aluminium, the 20 dram in copper-plated steel, the 50 dram in brass-plated steel, 100 dram in nickel-plated steel and 200 dram in brass. The 500 dram coin is bimetallic with a brass outer ring and cupronickel centre.

The Central Bank also produces commemorative coins. [3] [4]

Banknotes

On 22 November 1993, banknotes of 10, 25, 50, 100, 200 and 500 dram were issued. Notes for 1000 and 5000 dram were put into circulation on 25 October 1994 and 6 September 1995, respectively. On 1 March 1999, a 20,000 dram note was issued, whilst a commemorative 50,000 dram note was issued on 4 June 2001 to observe the 1700th anniversary of the adoption of Christianity in Armenia. 10,000 dram notes were introduced on 1 November 2003.

Banknotes currently in circulation are

• 1000 dram
• 5000 dram
• 10,000 dram
• 20,000 dram
• 50,000 dram
• 100,000 dram

In addition, the following banknotes are no longer legal tender (since April 1, 2004) but may be exchanged at banks: 10, 25, 50 and 100 drams. The 1993 500-dram banknote has also ceased to be legal tender since September 1, 2005, but there is a 1999 500-dram banknote that is still in circulation.

Banknotes of 1993-1995 series (out of circulation)

The banknotes issued in 1993-1995 were put out of circulation after 2005.

Obverse	Reverse	Value	Main colour	Obverse description	Reverse description
		10 Dram	Brown/Purple	Yerevan Train Station and David of Sasun statue	Mount Ararat
		25 Dram	Yellow/Brown/Blue	Urartian cuneiform tablet and a lion relief from Erebuni fortress	Ornaments
		50 Dram	Blue/Red	National Gallery and History Museum of Armenia	Armenian parliament building
		100 Dram	Blue/Purple/Red	Mount Ararat and Zvartnots Cathedral	Armenian Opera Theater
		200 Dram	Brown/Green/Yellow/Red	St. Hripsime Church in Echmiadzin	Ornaments
		500 Dram	Green/Brown/Blue	Mount Ararat and a Tigran the Great tetradrachm	Ornaments
		1000 Dram	Brown/Orange	Mesrop Mashtots statue and Matenadaran	7th century obelisk monument from Ani
		5000 Dram	Green/Yellow/Purple	Garni temple	Bronze head of goddess Anahit kept in the British Museum

Banknotes of 1998 series

The banknotes of 50, 100 and 500 dram are currently put out of circulation and replaced by coins with respective values. The banknote of 50,000 dram was issued in 2001 in commemoration of 1700 years of Christianity in Armenia.

Obverse	Reverse	Value	Main colour	Obverse description	Reverse description
		50 Dram	Pink/Blue/Grey	Aram Khachaturian and Armenian Opera Theater	A scene from ballet Gayane composed by A. Khachaturian, and Mount Ararat
		100 Dram	Blue/Grey	Viktor Hambardzumyan	Byurakan Observatory
		500 Dram	Grey	Alexander Tamanyan	Government House in Yerevan designed by A. Tamanyan
		1000 Dram	Green/Pink	Yeghishe Charents	An image of old Yerevan
		5000 Dram	Yellow/Green	Hovhannes Tumanyan	Nature of Lori from Martiros Saryan's paintings
		10,000 Dram	Purple	Avetik Isahakyan	An image of old Gyumri
		20,000 Dram	Yellow/Red/Brown	Martiros Saryan	Episode from Martiros Saryan's Armenia landscape
		50,000 Dram	Brown/Red	Etchmiadzin Cathedral	St. Gregory the Illuminator and king Tiridates the Great lift up the Armenian Church; on the right - a khachkar from Kecharis Monastery.
		100,000 dram	Blue/Brown	Abgar V of Edessa	In the center St. Thaddeus transfers the painting of Jesus Christ (painted alive) to Abgar V of Edessa.

Money supply

Currency in circulation has shown steady growth since first issue in 1993.

Year	Currency in circulation (billions of dram)
1993	1.2
1994	11.1
1995	25.7
1996	37.1
1997	42.2
1998	45.3
1999	45.5
2000	61.9
2001	66.7
2002	92.1
2003	96.8

Current AMD exchange rates
From Google Finance:	AUD CAD CHF EUR GBP HKD JPY USD RUB
From Yahoo! Finance:	AUD CAD CHF EUR GBP HKD JPY USD RUB
From XE.com:	AUD CAD CHF EUR GBP HKD JPY USD RUB
From OANDA.com:	AUD CAD CHF EUR GBP HKD JPY USD RUB
From fxtop.com:	AUD CAD CHF EUR GBP HKD JPY USD RUB

Note: Rates obtained from these websites may be slightly different from the rates the Central Bank of Armenia publishes

See also

• Armenian dram sign
• Economy of Armenia

References

• Krause, Chester L., and Clifford Mishler (1991). Standard Catalog of World Coins: 1801–1991 (18th ed.). Krause Publications. ISBN 0873411501. 
• Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9. 

External links

• Armemian Dram Sign History, shape, and promotion of Armenian Dram Sign
• Coin Types from Armenia Lists, pictures, and values of Armenian coin types
• Exchange rates against Armenian Dram and detailed history
• LIVE Detailed Armenian Dram Exchange Rates: AMD